Spirit Airlines agrees to sell 29 A319ceo aircraft for $152M-$201M

Spirit Aviation Holdings, Inc.

Spirit sells 29 unencumbered A319ceo aircraft to Gryphon Trading Company, an affiliate of Gryphon Aviation Leasing.
Aggregate price ranges from $152M to $201M depending on contractual price adjustments.
Aircraft deliveries expected from Q1 2023 through Q3 2024.
Spirit expects to remove 14 A319ceo from fleet in 2023 and 15 in 2024.
Remaining two leased A319ceo to be returned to lessor upon lease expiration in 2025.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Spirit Aviation Holdings, Inc. entered into Agreement with Gryphon Trading Company, LLC valued at an aggregate price ranging between approximately $152 million and $201 million (effective 2023-01-13).

Action: entry
Agreement: asset purchase
Counterparty: Gryphon Trading Company, LLC
Value: an aggregate price ranging between approximately $152 million and $201 million
Effective: 2023-01-13

Exact text from the filing

Spirit Airlines, Inc. (the “Company”) has entered into an agreement, dated January 13, 2023 (“Agreement”), to sell 29 unencumbered A319ceo aircraft powered with V2500 engines to Gryphon Trading Company, LLC, an affiliate of Gryphon Aviation Leasing, LLC, for an aggregate price ranging between approximately $152 million and $201 million, depending on price adjustments specified in the Agreement.

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Spirit Aviation Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001498710-23-000035

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